Royal Botanic Gardens Victoria Annual Report 2018-19
Royal Botanic Gardens Victoria Annual Report 2018-19
Royal Botanic Gardens Victoria Annual Report 2018-19
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Table 6: Financial results for <strong>2018</strong>–<strong>19</strong><br />
<strong>2018</strong>–<strong>19</strong><br />
$<br />
Government and other grants<br />
– Parks and Reserves Trust Account grants<br />
– Other <strong>Victoria</strong>n Government grants<br />
– Commonwealth Government grants<br />
– Other grants<br />
20,827,000<br />
601,402<br />
479,333<br />
334,977<br />
Philanthropic and other donations 2,201,485<br />
Other income 5,462,304<br />
Total expenses (30,870,478)<br />
Net result (963,977)<br />
Comparison of Financial Performance and Position<br />
The <strong>Royal</strong> <strong>Botanic</strong> <strong>Gardens</strong> Board<br />
<strong>Victoria</strong>’s net result for the financial year<br />
ended 30 June 20<strong>19</strong> was lower than the<br />
previous year, mainly due to the previous<br />
year’s inclusion of a $5 million Parks and<br />
Reserves Trust Account (PRTA) grant<br />
in advance, which has been expended<br />
in the <strong>2018</strong>–<strong>19</strong> financial year. Other<br />
significant movements in <strong>Royal</strong> <strong>Botanic</strong><br />
<strong>Gardens</strong> Board <strong>Victoria</strong>’s revenue and<br />
expenses included:<br />
A decrease in Government Grants revenue<br />
due to receipt of a one-off additional<br />
funding amount of $2.1 million in 2017–18<br />
A decrease in donation income mainly<br />
due to inclusion in the prior year of a<br />
one-off grant from the <strong>Royal</strong> <strong>Botanic</strong><br />
<strong>Gardens</strong> Foundation <strong>Victoria</strong> to fund<br />
the growth of public programs at <strong>Royal</strong><br />
<strong>Botanic</strong> <strong>Gardens</strong> <strong>Victoria</strong>, with a number<br />
of Foundation sub-funds closed due to<br />
completion of projects<br />
An increase in employee expenses<br />
due to filling several vacancies and<br />
implementation of a new Enterprise<br />
Agreement, and<br />
An increase in operating costs flowing<br />
from the increase in the PRTA grant,<br />
which has facilitated operations to<br />
undertake essential work that previously<br />
had not been possible.<br />
The <strong>Royal</strong> <strong>Botanic</strong> <strong>Gardens</strong> Board<br />
<strong>Victoria</strong>’s financial position was also<br />
affected by an increase in cash and<br />
deposit balances at 30 June 20<strong>19</strong>, mainly<br />
due to the receipt of project income in<br />
advance, the expenditure against which<br />
will be undertaken during the 20<strong>19</strong>–20<br />
financial year. This included funding<br />
received for research into the feasibility of<br />
developing a Nature and Science Precinct<br />
within Melbourne <strong>Gardens</strong>, and for the<br />
Melbourne <strong>Gardens</strong> non-potable and<br />
Cranbourne <strong>Gardens</strong> recycled irrigation<br />
water projects, which is also reflected<br />
as an increase in the contributed capital<br />
equity balance.<br />
There were no events occurring after the<br />
balance date which may significantly<br />
affect the <strong>Royal</strong> <strong>Botanic</strong> <strong>Gardens</strong> Board<br />
<strong>Victoria</strong>’s operations in subsequent<br />
reporting periods.<br />
ROYAL BOTANIC GARDENS BOARD VICTORIA — ANNUAL REPORT <strong>2018</strong>–<strong>19</strong> 29
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